Lloyds Banking Group (NYSE:LYG) Coverage Initiated at Berenberg Bank

Stock analysts at Berenberg Bank began coverage on shares of Lloyds Banking Group (NYSE:LYG) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage set a “hold” rating and a $2.75 price target on the financial services provider’s stock. Berenberg Bank’s price objective indicates a potential upside of 5.16% from the company’s current price.

Separately, Bank of America raised shares of Lloyds Banking Group from a “neutral” rating to a “buy” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $55.39.

Lloyds Banking Group Price Performance

Shares of NYSE:LYG opened at $2.62 on Thursday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 1.81. The company has a 50-day moving average price of $2.48 and a 200 day moving average price of $2.28. Lloyds Banking Group has a 52 week low of $1.88 and a 52 week high of $2.72. The company has a market cap of $41.65 billion, a P/E ratio of 6.54, a PEG ratio of 1.05 and a beta of 1.32.

Lloyds Banking Group (NYSE:LYG) last posted its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.11 EPS for the quarter. Lloyds Banking Group had a return on equity of 11.29% and a net margin of 17.97%. The business had revenue of $19.05 billion during the quarter. Research analysts predict that Lloyds Banking Group will post 0.32 earnings per share for the current year.

Institutional Trading of Lloyds Banking Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Mesirow Financial Investment Management Inc. acquired a new position in shares of Lloyds Banking Group during the 1st quarter worth approximately $2,599,000. Aaron Wealth Advisors LLC acquired a new position in shares of Lloyds Banking Group in the first quarter worth $243,000. Valeo Financial Advisors LLC lifted its position in shares of Lloyds Banking Group by 18.2% in the first quarter. Valeo Financial Advisors LLC now owns 47,135 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 7,264 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in shares of Lloyds Banking Group during the first quarter valued at $51,000. Finally, Global Retirement Partners LLC increased its position in Lloyds Banking Group by 8.3% during the 1st quarter. Global Retirement Partners LLC now owns 358,192 shares of the financial services provider’s stock worth $928,000 after purchasing an additional 27,498 shares in the last quarter. Hedge funds and other institutional investors own 2.15% of the company’s stock.

Lloyds Banking Group Company Profile

Lloyds Banking Group plc, together with its subsidiaries, provides a range of banking and financial services in the United Kingdom and internationally. It operates in three segments: Retail; Commercial Banking; and Insurance, Pensions and Investments. The Retail segment offers a range of financial service products, including current accounts, savings, mortgages, motor finance, unsecured loans, leasing solutions, and credit cards to personal customers.